First let me say @steembasicincome / @josephsavage, I appreciate the integrity with which you have approached writing this post. Specifically, wanting to hear from your members, before forging ahead with any changes to your program’s offerings to us.
My response to your proposal is pretty simple. While I have no problem with it, as written, from my perspective it is missing some vitally important information. Specifically, since this aspect of your program was implemented (at least as I understand it …) to “shore up” the need for improving the sustainability of SBI, what will the impact be on sustainability if this aspect of the program is discontinued? Perhaps somewhere the impact of this aspect of your program on its overall sustainability has been reported on, but I am unaware of it.
I can assume the answer is you would hope your program’s members would continue to upvote your posts, expecting nothing in return. Understood, but … It is hard to imagine you would have implemented this to begin with, had not the need to incentivize your members in some manner been present. Anyway, rather than make any assumptions, I would prefer to hear a direct response on any concerns about the projected impact to the program’s sustainability, should this proposal be carried out.
While not directly related to this point of this post, I have a question on the broader issue of the impact of “New Steem” on your program, since that is what has "gotten the ball rolling" in the first place. Have you given any consideration to building a downvote mechanism? Overall, the program’s ”SP power” is considerable and your member’s presumably have a share of this controversial post HF 21 / 22 feature of our Steem blockchain as well.
Thanks in advance for your response!
Thank you for expressing your thoughts and questions on the matter. We have looked at the expected impact on our sustainability metrics. Since HF22, author rewards contribute <20% to our sustainability, and a significant portion of that comes from our top 10 upvoters. Since those are in part motivated by upvoting bonuses, we expect to lose at least half of our author rewards from this change.
However... those ten accounts are typically upvoted at 100% across most or all of our voting accounts, and we earn below average curation on those upvotes. We expect to make back most (if not all) of our sustainability 'losses' from the change in improved curation rewards. In addition, many of our upvoters are likely to continue, especially if we only cut to 50% instead of 0%. The ratio of votes received to bonuses rewarded will improve and hopefully offset any remaining sustainability impact.
There are some unknown elements, but we hope that our sustainability metrics will actually improve from this change, even though our total rewards may decline some.
With regards to downvoting... we have done a few manual downvotes here and there and have put some thought into a more broadly automated solution. However... we think that automated downvotes can be extremely problematic (worse for Steem than bid-bots and other behaviors that they target). We would like to find some quality downvote trails to follow, but most have a little different perspective on what constitutes abuse.
Thank you for your in depth response @sbi-booster / ?...? 🙂. This ...
... is certainly encouraging to hear, as a preliminary projection. We will look forward to hearing how this unfolds, as you have many supporters hopeful of seeing the SBI program not only survive, but thrive going forward.
On downvoting, while I understand how "sensitive" and problematic their use can be, nonetheless I believe there is too much at stake to avoid utilizing the significant SP power the SBI program wields, for the benefit of our Steem blockchain. I hope to hear more on this topic.
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All @sbi-booster responses are written by @josephsavage :)
We agree about the responsibilities of stake, which is why we have done some manual downvoting already (and plan to do more) but have not configured any automated downvoting.
Okay, thank you @josephsavage! 🙂
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